La-Z-Boy Incorporated Opens Newly Renovated Showroom at High Point Market
Rhea-AI Summary
La-Z-Boy (NYSE: LZB) has unveiled its newly renovated showroom at High Point Market in Furniture Plaza, North Carolina. The remodeled 70,000 square-foot space showcases new visual elements and product offerings, demonstrating the company's Century Vision strategy progress. The renovation is part of a larger investment announced in February 2024, which includes showroom upgrades for the La-Z-Boy brand, La-Z-Boy International, and England Furniture. Despite challenging industry conditions, the company emphasizes its financial stability and commitment to reaching new consumers through its differentiated product portfolio and brand experience.
Positive
- Significant investment in 70,000 square-foot showroom renovation demonstrates financial strength
- Strategic expansion of retail presence through modernized facilities
- Company maintains financial stability despite challenging market conditions
Negative
- Ongoing challenging industry and macroeconomic conditions acknowledged by management
News Market Reaction
On the day this news was published, LZB declined 0.68%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
- Showcases new visual elements and product offerings aimed to deliver the transformational power of comfort across all generations
- Demonstrates continued Century Vision progress, and reinforces company’s commitment to the industry
HIGH POINT, N.C., Oct. 25, 2024 (GLOBE NEWSWIRE) -- La-Z-Boy Incorporated (NYSE: LZB), a global leader in the manufacture and retail of residential furniture, has opened its newly renovated showroom at High Point Market in Furniture Plaza, High Point, North Carolina.
The remodeled, nearly 70,000 square-foot space, features new visual elements and product offerings aimed at delivering La-Z-Boy’s transformational power of comfort across all generations. The investment demonstrates the company’s commitment to the industry and continued progress in the execution of its Century Vision strategy.
“The showroom brings to life our Century Vision, as we near the end of our company’s first century and prepare for the next, leveraging our iconic La-Z-Boy brand, differentiated product portfolio, and strong consumer insights to reach new consumers and better serve all stakeholders,” said Melinda D. Whittington, President and Chief Executive Officer. “It is enabled by the financial stability of La-Z-Boy Incorporated, despite the ongoing challenging industry and macroeconomic conditions.”
“Uniting our iconic past with our limitless future, the showroom highlights the strength of our iconic La-Z-Boy brand and incredible product offerings,” said Rob Sundy, President, La-Z-Boy Brand and Chief Commercial Officer. With distinctive visual elements, new products, and the introduction of a reimagined brand experience, we are further positioning La-Z-Boy as an inspiring brand prepared to embrace the next century.”
In February of 2024, La-Z-Boy Incorporated announced that it was investing in major renovations of its showrooms in High Point, North Carolina, including showrooms for the La-Z-Boy brand, La-Z-Boy International, and England Furniture. The High Point showroom renovations were completed in close collaboration with ANDMORE, RPM Partners, and in conjunction with architectural and design partners and vendors.
Melinda Whittington, La-Z-Boy Incorporated President and CEO; Rob Sundy, President, La-Z-Boy Brand and Chief Commercial Officer; and Rebecca Reeder, President, Retail, La-Z-Boy Furniture Galleries, cut the ribbon to open the company's newly renovated showroom at High Point Market.
Media Contacts:
Cara Klaer, Corporate Communications: (734) 598-0652; Cara.Klaer@la-z-boy.com
Mark Becks, Investor Relations: (734) 457-9538; Mark.Becks@la-z-boy.com
About La-Z-Boy Incorporated:
La-Z-Boy Incorporated brings the transformational power of comfort to people, homes, and communities around the world – a mission that began when its founders invented the iconic recliner in 1927. Today, the company operates as a vertically integrated furniture retailer and manufacturer, committed to uncompromising quality and compassion for its consumers.
The Retail segment consists of about 190 company-owned La-Z-Boy Furniture Galleries® stores and is part of a broader network of over 350 La-Z-Boy Furniture Galleries® that, with La-Z-Boy.com, serve customers nationwide. Joybird®, an e-commerce retailer and manufacturer of modern upholstered furniture, has 12 stores in the U.S. In the Wholesale segment, La-Z-Boy manufactures comfortable, custom furniture for its Furniture Galleries® and a variety of retail channels, England Furniture Co. offers custom upholstered furniture, and casegoods brands Kincaid®, American Drew®, and Hammary® provide pieces that make every room feel like home. To learn more, please visit: https://www.la-z-boy.com/.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/72a7aa19-7a04-401d-8935-0aa75d9c84e4
FAQ
What is the size of La-Z-Boy's (LZB) new renovated showroom at High Point Market?
When did La-Z-Boy (LZB) announce its High Point showroom renovation plans?
How many La-Z-Boy Furniture Galleries stores does LZB currently operate?
